PRESENTED BY NUVEEN GREEN CAPITAL

Propmodo Technology

By Franco Faraudo · Apr. 3, 2024

Greetings!

Today we’re looking at why Building Information Modeling (BIM) is just as important for commercial property owners as it is for builders. From the first sketch to long-term management, BIM is streamlining communication, cutting costs, and maximizing building efficiency. Owners especially can use BIM to minimize risk, prevent costly rework, and make data-driven decisions that benefit their investment and the environment.

This week Propmodo Technology explores capital project management including how owners and developers are managing commercial construction costs in real-time, the role of green loans in funding clean energy initiatives, and the growing acceptance of C-PACE financing, a state-level government policy that classifies clean energy upgrades as a public benefit.

Today's email is supported by Nuveen Green Capital, the largest provider of C-PACE financing in the country. Led by several of the industry’s founding policy developers and standard-setters, Nuveen Green Capital has provided financing to hundreds of commercial properties and is active in more than 27 states, making clean energy a smart financial decision for commercial property owners and developers nationwide.

Now, let’s go!

Owners Can Unlock the Full Potential of Their Building Investment With BIM

Building Information Modeling (BIM) has revolutionized the construction industry, and forward-thinking commercial building project owners are reaping the benefits. This technology has changed the way buildings are designed and built, encouraging collaboration between architects, engineers, and construction teams. But sometimes, the full power of BIM gets untapped due to clunky software and teams working in isolation.

When siloed teams end up doing the same work over and over through the design, build, and operation phases, it wastes everyone's time and money. Building owners are in a unique position to fix this. Since they're involved throughout the entire building process, owners can set the standard for how everyone on the project works together.

One of the biggest advantages of BIM is how it can help prevent expensive construction rework, keeping projects on budget. With features like 4D scheduling and 5D cost estimation, BIM lets you plan ahead with greater accuracy, making the most of your investment. Plus, the shared information hub that BIM provides makes communication between teams easier, improving quality control and giving owners a clear picture of what's happening.

BIM isn't just about construction – it's a powerful tool for managing buildings and promoting sustainability over the long haul. By giving you insights into things like your building's mechanical systems and energy use, BIM helps you make smart decisions that save you money and help the environment. BIM doesn't just support good design choices, it's crucial for quantifying a building's long-term environmental impact. Owners receive data-driven tools to balance initial construction costs with a structure's operational efficiency across decades.

Project owners need to minimize risk, and BIM helps enable this. With detailed 3D models and shop drawings, teams can easily spot potential problems before they happen, reducing mistakes, cutting down on wasted material, and keeping the project on schedule. That kind of foresight is critical for owners – it protects your investment and helps ensure everything goes smoothly with regulations. Clash detection and detailed BIM models become like an insurance policy for the owner. Issues are resolved virtually, not on the job site where delays are at their most expensive.

Renovating, expanding, or integrating smart technology into an existing structure becomes significantly more straightforward with BIM. Property and facilities management teams gain access to a centralized repository of essential details, encompassing building materials, structural designs, and comprehensive maintenance history. This consolidated approach enhances operational efficiency and facilitates better planning and decision-making for maintenance and upgrades. Throughout the building's entire lifecycle, the BIM model acts as a constantly evolving knowledge base. This reduces the need to 'rediscover' building components and systems, and makes future renovations less disruptive and expensive.

BIM isn't just about constructing a building; it's about creating a valuable asset that you can manage intelligently for the long term. As an owner, taking the lead with BIM gives you access to a wealth of data that lets you make better decisions about maintenance and future updates. The choices you make during the planning stages will impact your building's success for years to come. Investing in strong BIM practices is investing in the future of your property.

PRESENTED BY NUVEEN GREEN CAPITAL
C-PACE: Flexible Construction Capital That is Revolutionizing Commercial Real Estate Finance

Learn more about how C-PACE financing has emerged as a flexible debt solution for borrowers – providing one of the least expensive forms of capital available on the market to fund commercial real estate projects pre-, mid-, or post-construction.

The power of C-PACE is that it is very malleable and can be used as a capital solution for a multitude of scenarios – renovations of an existing buildings, new ground-up developments, and refinancing of projects completed within the last two to three years. It can be used as a bridge product; it can be used for construction financing; and it also can be used as a recapitalization strategy.

Now at the forefront as a capital markets solution, C-PACE, which is available in 38 states and Washington, D.C., provides access to fixed-rate, low-cost, long-term capital for a wide range of commercial and multifamily real estate projects through a state policy-enabled tax assessment structure.

Bytes

☀️ Bright idea: Researchers at the University of Notre Dame have developed a groundbreaking window coating that not only lets in natural light but also blocks unwanted heat. They claim the technology could potentially slash air-conditioning costs in hot climates, all while maintaining clarity regardless of the sun's position.

🥊 CRE grit: Bob Knakal, a prominent real estate broker in New York City who departed from JLL in February, has established his own investment sales company. His new website says the firm plans to utilize artificial intelligence to enhance property sales in the nation's biggest commercial real estate market.

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